Affordable Housing @ The Zen

The Zen, the latest mixed development by Asia Green at Bayan Mutiara. Strategically located next to Tun Dr. Lim Chong Eu Expressway, just a short drive away from Penang World City integrated development by Tropicana Ivory. This development comprises around 2,000 condominium units in two 46-storey residential towers, 1,200 units of which are categorized under affordable housing. There are also several shop offices located at the first and second level.

The affordable units has a standard built-up size of 850 sq.ft. with 3 bedrooms and 1 car parking lot. It also comes with full facilities with swimming pool, 180 viewing sky deck overlooking the seaview and bridge, jacuzzi, children playgound, gym and many more!

(Actual site – Nov 2017)

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@JJ
As yesterday info, no more OP unit, only affordable available. Those interested still can walk in their office to fill in PN1.@Aa
Previously we choosing OP unit, they mention 24 floor (sea view) and below is keep for affordable. 1-8 floor as car park and some facility.

Hi there… would like to check what is the terms & conditions for affordable application, as i understand it can’t be sold within 5 years of the date of possession.
After 5 years can sell to public or need to get consent from state gov and only can sell to affordable scheme applicants?

receive call from the panel lawyer to sign the S&P, although for my case it is pre-approved. This is weird, thought S&P should be signed only when loan etc alr settled. Anyone could shed some lights on this?

@SO
Affordable housing purchased can not be sold for 5 years. Those who wish to sell during the first 5 years must appeal to the state government and can only be sold to “listed buyers”.
after 5 year should no limitation… but looks YB Jagdeep Singh want change it soonly…

@B
My understanding sea view for 25 to 47 floor as OP unit. if not mistaken normally Gov’t. will allow 30% of total units (400 of 1200 for this case)??
as info from AG staff on 23/April no more OP unit left. IDK if any exceptional case?

Yesterday get called from my lawyer, govt still not firm on the 2019 Jan-June loan agreement stampduty exemption for affordable buyer. Seems like high chances we need to pay the LA stamp duty. Thanks to our LGE which implement the rubbish policy whereby HOC is not applicable for affordable buyer but is benefit developer.

went to the office to check it out and was informed that only 1cp available, no rebate or free legal fees for affordable, everything have to pay by self and also have to start paying loan interest until 2023, no waiver.

hi guys, I’m buying my first house under the affordable scheme. This is one of my interested projects (town view 850sqft 300k 1cp) along with Tree-O (hill view 900sqft 365k 2cp) and Senzville (although this sold out ady).
Anyone care to comment on which one more suitable for personal stay and potential future market worth ya? I’m planning to stay for approx 5-6 years then upgrade to bigger house when got more money and family.
Also is this area less jam than Sg Ara?

If you can live with 1 CP then The Zen will a better option because less jam and Bayan Mutiara certainly better than Sungai Ara. The only pros for Tree-O is the developer Hunza is more reputable than Asia Green and 2CP. Other than that, I will choose The Zen anytime.

Hi , wish to ask regarding the pre-approved for the Zen affordable house. I been info need to balloting for unit and pay the 10% down payment. And we only can get back the down payment with two condition
1. Loan didn’t been rejected by 3 bank
2. The application with the Penang State government for unit leave doesn’t been approved.
Usually the state government will approve for the leave unit?

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